Refer to the following figure when answering the following questions.
Figure 7.2: United Kingdom Unemployment Rate: 1971-2015 (Source: OECD and Federal Reserve Economic Data, Federal Reserve Bank of St. Louis)
-Given the U.K. unemployment rate data depicted in Figure 7.2, the year of the trough of a recession was:

Question

Refer to the following figure when answering the following questions.
Figure 7.2: United Kingdom Unemployment Rate: 1971-2015  (Source: OECD and Federal Reserve Economic Data, Federal Reserve Bank of St. Louis)
-Given the U.K. unemployment rate data depicted in Figure 7.2, the year of the trough of a recession was:

Quizplus · Accepted Answer

The trough of a recession is typically marked by the lowest point in economic activity before recovery begins. In the context of unemployment rates, this would be the point where unemployment starts to decrease after a period of increase. Based on historical data, 1993 is recognized as a year when the U.K. was recovering from the early 1990s recession.

Refer to the Following Figure When Answering the Following Questions